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...main reason for housing inflation is that land prices have multiplied six times in the past 20 years and now account for an unprecedented 25% of builders' costs. In some regions the spiral appears to be accelerating. Two examples: in Miami's Bade County, a basic 100-ft. by 75-ft. lot that sold for $3,500 a decade ago now commands $17,500. The price has risen $2,000 just since May, and Douglas Wiles, a Miami housing economist, predicts a further $4,000 increase by year's end. In the northern Virginia suburbs outside Washington, D.C., Builder Edward...

Author: /time Magazine | Title: Housing: It's Outasight | 9/12/1977 | See Source »

Environmental regulations jack up the cost of preparing sites for building; in many places that expense is becoming as heavy a burden as the price of the raw land. George F. Schoeck, a bank executive in Morris County, N.J., gives this example: "A builder used to put in a 28-foot road with no curbing. He'd compact it, roll it, lay two inches of black top and dedicate it to the town?and it would be their problem. Now the developer has to lay eight inches of stone with a three-inch binder coat of coarse asphalt...

Author: /time Magazine | Title: Housing: It's Outasight | 9/12/1977 | See Source »

...hottest takeover battle now going on is the struggle for control of Babcock & Wilcox, New York-based maker of steam-generating equipment and builder of nuclear power plants (estimated 1977 sales: $1.8 billion). Early in 1977, when the company's shares were selling for $35, Babcock management rejected a tender offer from United Technologies Corp. of $42 a share for all its stock; opposition continued when the offer was raised to $48. Last week Babcock accepted a bid from J. Ray McDermott & Co., a New Orleans-based firm best known for its production of oil-drilling rigs...

Author: /time Magazine | Title: Business: Return of the Big Deal | 8/29/1977 | See Source »

...level canal required far more voluminous and difficult digging in mountainous Panama than had been necessary in the Middle Eastern sands. Few of the celebrated French engineers De Lesseps invited to inspect his plan approved it (among the doubters: Gustave Eiffel, the tower builder). The doubts were soon borne out: in 1889, De Lesseps' company went bankrupt. By that time, the French had moved 50 million cubic meters of earth?two-thirds of the amount moved at Suez. In the process, some 20,000 workers died of malaria and yellow fever (whose causes were thought to be noxious jungle vapors...

Author: /time Magazine | Title: The Nation: How the Big Ditch Was Dug | 8/22/1977 | See Source »

Once in Oshkosh, the builder-flyers demonstrated their airs above ground: one man performed slow aerobatics in his Starduster while listening to Strauss waltzes over his on-board earphones; another, goggled and scarfed like the Red Baron himself, eased his bulbous-nosed Der Jager into the friendly skies. There were also rides in a Ford Tri-Motor to be had for a mere $10 and the Red Devil Acrobatic Biplane Squad to watch as it performed an amazing array of intricate patterns and loops and dives...

Author: /time Magazine | Title: Living: The Big Fly-In at Oshkosh | 8/15/1977 | See Source »

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